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The Corroboree
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The Currency Revolution - With Bitcoin

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Just to blow everyone's minds a little:

Price as of posting: $800 USD

All time high (last night around 23:30): $900 USD

24 Low: $585

Reason for it going up so much:

  • China
  • Media
  • 3rd most searched term on Google
  • Magic

MtGox USD Chart

BTC China CNY Chart

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:BANGHEAD2:

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back down to 720.

i started mining them back when they were under 200$ but didn't get far... at the time it cost too much electricity running high powered gpu 24/7.

the new ASIC miners are much better in those respects, but so fucking expensive atm, everyone paying more than retail for the hardware.

who wants to put $5k in each on a group buy miner? or lease mining time. seems only way to actually get ahead costs alot upfront.

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I was very close to buying 10K worth when they were $13 per Coin.

$10,000 / $13 = 769 BC

769 BC at $720 = $558 000. 00

Bangs head against wall!

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back down to 720.

i started mining them back when they were under 200$ but didn't get far... at the time it cost too much electricity running high powered gpu 24/7.

the new ASIC miners are much better in those respects, but so fucking expensive atm, everyone paying more than retail for the hardware.

who wants to put $5k in each on a group buy miner? or lease mining time. seems only way to actually get ahead costs alot upfront.

Im more interested in finding a windy location and putting a wind farm up . Work on a program that would allow you to mine more during peak power

and to slow during low power . But in reality the era for profitable mining is inmho unless you use free energy .

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Im more interested in finding a windy location and putting a wind farm up . Work on a program that would allow you to mine more during peak power

and to slow during low power . But in reality the era for profitable mining is inmho unless you use free energy .

Evelyn, Qld 4888, they already have one there so would be easier to get approval for another, not sure how good the internet connections up there are though?

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IMO, if anything I think this whole bitcoin phenomena has served mostly just as a further demonstration of how abstract and changeable and unreal this whole thing called money actually is. Doesn't matter whether it's printed on plastic or paper or embossed on a small round piece of metal or made up of electronic one's and zero's - you can't eat it, it doesn't keep the rain off your head and believing that it really matters and chasing after it will just make you miserable. And the rest of the animal kingdom gets on just fine without it, as did we for hundreds of millions of years until recently.

Then again, I'm an idealist, and I don't belong in the real world apparently :(

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i think i may really need to pull my techno finger out because i have no freakin idea what mining bitcoins is and i'm guessing a pick axe and a heavy vehicle license isn't required......best be cranking up my google machine

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i think i may really need to pull my techno finger out because i have no freakin idea what mining bitcoins is and i'm guessing a pick axe and a heavy vehicle license isn't required......best be cranking up my google machine

I wish it was that easy

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Well we all might want to get our shite together because if or when the US$ falls on its bum then the Au$ will probably follow it down the gurgler.

Russia wants to outlaw US dollar, calling it a Ponzi scheme!

http://www.washingtontimes.com/news/2013/nov/13/bill-would-outlaw-us-dollar-russia/#ixzz2kvkZTmYN

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bigred, fantastic idea, am researching each night into possibilities...

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And we're back down to $530USD. Roller coaster!

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650 aud

Edited by C_T

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Hi Guys. I am in the process of designing a Green Energy Mining Rig, I will post the spec here once I have finished. I should be able to provide this as kits for anyone who is interested. It will be 500w Solar tho not Wind. Food for Thought.

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I bought in during august 2013...$117...sold $630 a few days ago....it was going crazy..unsustainable.....I didnt want to be holding them when they crashed...

a got a nice profit :wink:

i wonder how they will go...they seem to be settling around 600-700 today.

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i have a great theory for using solar power aka light from the sun concentrated into heat. using that heat to drive a standard steam engine.

small scale for house/apartment size, not city sized.

each square meter has 1kw electricity ready to be harnessed. with just 1 meter square, a mirror and sun tracking you can produce serious temperatures for a significant amount of time

Edited by C_T

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I think that's already a thing. A series of mirrors track the sun and focus the light onto a single boiler, there has been a prototype in Australia somewhere for many years.

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I think that's already a thing. A series of mirrors track the sun and focus the light onto a single boiler, there has been a prototype in Australia somewhere for many years.

We have two Solar Thermal Plants at the CSIRO site in Newcastle.

http://www.csiro.au/Outcomes/Energy/Renewables-and-Smart-Systems/Solar-Brayton-Cycle.aspx

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Just something to note... Mining rigs / ghash/power usage will grow with bitcoin too.

People paying more than market price for a rig or mining at a loss due to electricity bills are aware of them. It's the fact that it's a gamble that the price (that once was a net loss eg mine $1 of BTC that costs $2 of electricity) will in the future be greater. Just another method of speculation of its future prospect. Solar mining btc I highly doubt will be profitable. The initial capital for the EcoRig will be more than regular and electricity is the non-factor of Bitcoin mining right now. Cheaper electricity isn't the next step of it's phase. It's dedicated computer parts and their increased speed along with reduced power consumption. I mean you can run a computer mining with a solar panel now...It's just not cost effective. Eco Friendly which is nice but not a $ generating investment.

A lot of you probably are saying ' $500+ is too expensive...fuck it'. But Please just hear me out for a second.

1. Unlike stocks, you can buy a fragment of a bitcoin, so buying $20 worth is still viable.
2. This is the corner stone point. Bitcoin has a future in which it can go two ways. Either, Crash to $0 / code vulnerability... in which case you lose 100% of your investment. OR it continues to absorb areas of global finance where other currencies, payment processors, precious metal movers and stores are just not competitive enough to expect are user base to remain with them. In this case, Bitcoins value has no real roof that can be defined. But there are many projections of it's worth if it gained certain %s of the global market that suggest prices in the 10's and 100's of thousands per btc.

Going to a casino and bet red you can lose 100% of the bet or gain at most double.

I encourage you to put thought into putting away some $ into it, even if a minuscule amount. Because, these kinds of odds are rarely available in life.


With Aus possibly soon adding an internet purchase import tax to help Aus business that can't compete with foreign business... The expectation that people will just accept being forced to pay higher prices for the sake of non competitive local prices offered is absurd.

The fact we lose 2%+ each year of our spending power. Thanks to inflation. (I mean seriously it's just a covert theft from every AUD holder) ... Bitcoin is having more supporting its NEED for adoption and the abandonment of these corrupt and damaging monetary practices we've got in place today.

Many people still have 0 knowledge of btc's existence, and it's reaching the masses more and more...nearing possible critical mass. Even now you're ahead of the pack just knowing about it's presence.

anyway... gnight all

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The numbers for Solar Mining do not add up unfortunately. However the ASIC mining cards can output a very high GH/s for very low power consumption. The only problem is getting a hold of one. Bitcoins are currently at half of there total production. How high can the difficulty grow within the set time period, and is there a corrolation between the computation difficulty and the trade value of Bitcoins. I would imagine they are both linked through demand, and perhaps availability of equipment.

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the difficulty is a direct relationship with the amount of mining. and as it goes up, the difficulty jumps will smooth out, as will any profits from this inflation.

so its a good reflection of how many people get involved, if the difficulty jumps up, it means ALOT more mining is happening, but that just makes BTC as a whole, stronger!

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We have two Solar Thermal Plants at the CSIRO site in Newcastle.

http://www.csiro.au/Outcomes/Energy/Renewables-and-Smart-Systems/Solar-Brayton-Cycle.aspx

but instead of a mirror, use magnified glass and you will achieve power with just the size of 1 of those mirrors, you can hit over 2000 deg C easily.

this large scale $150m bullshit is actually holding the industry back! Every house could have a power station on their roof.

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